Beijing Jingkelong (00814) announced that according to the new company law, a limited liability company can set up an audit committee composed of directors in the board of directors according to the provisions of the company's articles of association, exercising the powers of the supervisory board without setting up a supervisory board. As suggested in the communication, the proposal to amend the company's articles of association, including the cancellation of the establishment of the supervisory board and other matters, has been approved by the shareholders at the 2023 annual general meeting, and the company will no longer set up a supervisory board from July 1, 2024. All supervisors have resigned from the supervisory board and their resignations will take effect from July 1, 2024.
According to the new company law, there should be employee representatives among the members of the board of directors of a limited liability company. As suggested in the communication, the proposal to amend the company's articles of association includes the establishment of employee representative directors and other matters, and the above-mentioned amendments have been approved by the shareholders at the 2023 annual general meeting. Zhang Hongbo, the current executive director of the company, has resigned as a shareholder representative director, with the resignation taking effect on July 1, 2024, and was elected as an employee representative director through democratic elections in the company's employee representative assembly, with the appointment taking effect on July 1, 2024. As a result, from July 1, 2024, Zhang Hongbo will be transferred from the current shareholder representative director to the employee representative director and will continue to serve as the executive director of the seventh board of directors.
